How can a garden add value to your property: Since March 2020 and the start of ‘Lockdown’, gardens have become a must for more and more buyers. There seems to be some confusion about the value a garden can add to the value of the property.
As part of our market research we have been conducting a study. The aim has been to find out how much your garden can add to the value of the property.
A word of caution!
Before you read this and go out spending thousands on your garden, BE WARNED! There are risk factors when it comes to making money from property.
All property has a ceiling price. There comes a point when spending more money on a property WILL NOT ADD VALUE! It may make it easier to sell but past the ceiling price it becomes ‘dead money’.
Please speak to an estate agent to find out what your ceiling price might be!
Should you invest in your garden?
There is no one size fits all answer for this however you can get a good idea by answering a few questions.
- How much could my house improve in value
- How much could the value of my garden be increased?
- What investments will make the biggest difference?
The first question is for you to answer with the help of a knowledgeable agent . The rest of the article will use our data to help you answer the next 2 questions assuming you are far enough below the ceiling price to be able to improve the value of your property.
How much could you increase the value of your garden?
We looked at the potential value of each garden based on the house value and the overall size of the garden. The chart below shows the average house value increase that our participants could achieve through investing in their garden.
Based on our data, the average person could increase the value of their house 6.4% by investing in their garden. This is of course assuming your garden needs improving in various ways.
We based our figures on the average Harlow house price of £326,533 (https://dataloftinform.co.uk/). This would mean an average house value increase of £20,898 through improving the garden.
How garden size effects house value:
As you would expect, not all gardens are equal. Generally speaking, the smaller the garden the less it can add to the value of the house.
We asked our participants to rank the size of their garden from very large to tiny. Garden size should be compared to the common size for your size of property not the total size.
A small garden for a £1,000,000 house may be a very large garden for a £200,000 house.
The next chart shows the potential property value increase our participants could achieve depending on their garden size.
We worked out how much a fully optimised garden could add to the Harlow average house price. It looks something like this:
A large garden would add £31,020
A medium garden would add £25,371
A small garden would add £13,877
Even for small gardens, this amount is nothing to turn one’s nose up at. Especially as this is the average amount that could be added to an already existing garden which holds some value already.
Most valuable garden improvements:
We have looked into how much value could be added to your garden depending on the house value and size of the garden. Now let’s look at which improvements could add the most value.
Based on an average house value of £326,533 the chart below shows the potential house value for a range of common garden improvements.
In the next section we will cover return on investment from each of these garden improvements.
The garden shed.
Coming in first is the humble garden shed. Having somewhere to store things that don’t need to live in the house is high up on the list of desirable garden features.
Of course, going out and buying a shed for £300 from your local DIY centre isn’t going to add over £6,000 to your property. By the same token, going out and spending £25,000 on an amazing Summerhouse / Garden Office will not necessarily add £25,000 to the value.
It’s a balancing act, as it is with all the improvements we are about to speak about. However, with a little thought, it is amazing what a great return the right shed / outbuilding to do to the value of your property.
We recommend a good quality wooden shed or a composite shed. Go for a standard or neutral colour to make sure it works for most potential buyers. If you can get electric and broadband to your outbuilding then even better! Please remember it is essential to use a qualified electrician to install a mains supply.
At the very least it needs to be able to store some bikes and some furniture that might otherwise end up inside your home. If you don’t have a garage it may be a good idea to invest in a bigger shed.
A nice patio.
As people spend more time at home, having somewhere to enjoy the garden has become a must. With our unpredictable weather, a lawn can be too wet to use and won’t support furniture.
A good quality patio made from sandstone or porcelain will create a practical and visually stunning area which will last years.
When planning out a patio think about both how it will look and what it will be used for. Most people use patios for tables and chairs and as a social area.
A good quality fence.
Coming in closely behind a patio is the garden fence. Buyers care about security and privacy when thinking of enjoying the garden. We recommend at least a 6ft fence.
Close board panels with concrete posts are the go too but if you are going up market there are plenty of unique options to choose from.
If you have nosey neighbours, or closely overlooking houses it can be a good idea to get 8ft fences or to extend the top of the fence with a small trellis to obscure the view.
Outdoor lighting.
In fourth place is outdoor lighting. This one was a surprise as not that many people have it but outdoor lighting is one of the things people look for.
It makes the garden pretty in the evenings and darker months, can make people feel more safe and also acts as a safety feature if there are trip hazards.
Once again, please remember that you MUST use a qualified electrician to carry out ANY electrical work in or outside your property. However, there are many excellent solar powered outside lights that you can install yourself.
Decking
Performing a similar function to paving but offering more versatility where elevation is needed because drainage is poor, or to add extra effect, decking is fast becoming a popular feature. Composite decking being one of the most requested items this year.
Outdoor features and water features.
In 6th place garden ornaments and water features. These need to be chosen with care, work for the garden and not be too specific in their taste. Adding a feature such as a small pond or a fire pit can be attractive and excite ideas about relaxing and enjoying the space. Who doesn’t love the sound of running water!
Garden furniture.
A must at the moment, good garden furniture can make or break a garden. At the very least you should go for a table and some chairs for those sunny afternoons.
Artificial grass.
Last of all is artificial grass. As the trend of low maintenance gardens picks up we have seen huge demand for artificial grass to replace lawns. Artificial grass lawns were at one time seen as cheap. Now with new materials they are highly realistic, last or decades and are not too bad price wise.
Artificial grass won’t appeal to everyone but it is gaining popularity fast so it could be a good investment, especially if you don’t take care of the lawn.
Summary>
There is so much that you can do with a garden. What works for one may not work for another. What we as Estate Agents in Herts & Essex see all the time is that properties with fabulous garden space (regardless of size), sell quicker and for higher prices.
Look at the two examples below.
Both added more value to the property than was spent on improvements.
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Who can: Value my house, or value my property.
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Where is there an: Estate agent near me.
Where can I find: Estate agents in Essex, or, Estate agents in Herts
Who can: Sell my House
Who can: Sell my flat
Where can I find: Houses for sale?
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